Montreal, Quebec, August 31, 2017 – SRG Graphite Inc. (TSXV: SRG) (“SRG” or the “Company”) Is pleased to announce the closing of tranche 1 of the non-brokered private placement (the “Private Placement”) announced on August 15, 2017 with Coris Capital SA. The Corporation has issued a total of 5,250,000 units (the “Units”) of SRG at a price of $0.40 per Unit for gross proceeds of CAD$2,100.000.
Each Unit is comprised of one common share of the Company (a “Share”) and one-half of one non‑transferable share purchase warrant. Each whole warrant (a “Warrant”) will entitle CORIS to purchase for a period of 24 months from the date of closing (the “Expiry Date”), one additional common share of the Company (a “Warrant Share”) at an exercise price of $0.50 per Warrant Share.
The remaining CAD$900,000 of the Private Placement will close on or before September 9, 2017 pending approval of documentation filed with the TSX-V.
The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSX Venture Exchange. All securities issuable pursuant to the Private Placement are subject to a four month hold period from the date of issuance in accordance with applicable Canadian securities laws.
No finders’ fees or commissions will be payable. Net proceeds from the Private Placement will be used for exploration purposes and general working capital requirements.
ABOUT CORIS Capital SA
Coris Capital SA is a Mauritius-based company and a member of the Coris Group, which is controlled by Mr. Idrissa Nassa and includes Coris Capital SA and Coris Holdings SA. It has activities and investments in finance, telecom, mining and in the industrial sector. Coris Holdings SA is a private company based in Burkina Faso with investments in the banking (Coris International Bank), insurance (Coris Insurance), wealth management (Coris Financial Management) and industrial sectors (General Mining Logistics). Its activities are focused mainly in West Africa.
SRG is a Canadian-based company focused on developing the Lola Graphite deposit, located in the Republic of Guinea, West Africa. SRG is committed to operate in a socially, environmentally and ethically responsible manner.
For additional information, please visit SRG’s website at www.srggraphite.com.
For more information contact:
SRG Graphite Inc. (SRG)
Dr. Marc-Antoine Audet, President & CEO
Tel.: (514) 726-4158
Tel.: +1 (514) 867-7447
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This release contains forward-looking statements. More particularly, this release contains statements concerning the anticipated Private Placement. Although SRG believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because SRG can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The closing of the Private Placement could be delayed if SRG is not able to obtain the necessary regulatory and stock exchange approvals on the timelines it has planned. The Private Placement will not be completed at all if these approvals are not obtained or some other condition to the closing is not satisfied. Accordingly, there is a risk that the Private Placement will not be completely sold, completed within the anticipated time or at all. Additional information on these and other factors that could affect SRG’s operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).